OpenLocker, the Red Bank-based non-fungible token & profile picture platform, said Tuesday that Descrypto Holdings entered into a definitive agreement to acquire it for $5 million.
The deal marks the first acquisition by Descrypto in its plan to lead the way in the digitization of sports-related assets.
OpenLocker is a leading innovator in utilizing blockchain technology to provide digital ownership of NFTs for college athletes as well as thoroughbred racing’s biggest stars.
“We are very pleased to have entered into this Agreement with OpenLocker. The company has proven through completed Name, Image and Likeness deals that it has the right formula for success in this growing space. We see a tremendous opportunity for further growth with the OpenLocker Brand. We look forward to sharing our progress with our shareholders,” Howard Gostfrand, CEO of Descrypto Holdings, said in a prepared statement.
Brian Klatsky, founder and CEO of OpenLocker commented: “Our acquisition by Descrypto provides even more depth and growth opportunities than we could have had as a private company. This is a powerful alliance that presents a very compelling investment opportunity for investors.”